Microsemi Co. (MSCC) Given Average Rating of “Buy” by Brokerages

Shares of Microsemi Co. (NASDAQ:MSCC) have earned a consensus recommendation of “Buy” from the fifteen brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $61.67.

MSCC has been the topic of several recent analyst reports. Zacks Investment Research cut Microsemi from a “buy” rating to a “hold” rating in a report on Monday, September 18th. KeyCorp reiterated a “buy” rating and set a $62.00 price objective on shares of Microsemi in a report on Friday, October 20th. Needham & Company LLC reiterated a “buy” rating and set a $61.00 price objective on shares of Microsemi in a report on Friday, November 10th. Oppenheimer reiterated a “hold” rating on shares of Microsemi in a report on Friday, November 10th. Finally, BidaskClub cut Microsemi from a “hold” rating to a “sell” rating in a report on Thursday, December 7th.

In other Microsemi news, VP Frederick C. Goerner sold 3,968 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $51.51, for a total value of $204,391.68. Following the sale, the vice president now owns 57,794 shares in the company, valued at approximately $2,976,968.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas Robert Anderson sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $51.12, for a total value of $51,120.00. Following the completion of the sale, the director now owns 14,113 shares in the company, valued at approximately $721,456.56. The disclosure for this sale can be found here. Insiders sold a total of 184,631 shares of company stock worth $9,895,032 in the last 90 days. Company insiders own 0.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MSCC. Los Angeles Capital Management & Equity Research Inc. lifted its stake in Microsemi by 185.1% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 19,923 shares of the semiconductor company’s stock valued at $932,000 after acquiring an additional 12,935 shares in the last quarter. Riverhead Capital Management LLC raised its stake in shares of Microsemi by 128.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 11,426 shares of the semiconductor company’s stock worth $535,000 after purchasing an additional 6,426 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Microsemi by 29.2% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 686,906 shares of the semiconductor company’s stock worth $32,147,000 after purchasing an additional 155,336 shares in the last quarter. Amalgamated Bank raised its stake in shares of Microsemi by 50.2% during the 2nd quarter. Amalgamated Bank now owns 23,518 shares of the semiconductor company’s stock worth $1,101,000 after purchasing an additional 7,861 shares in the last quarter. Finally, BlueMountain Capital Management LLC raised its stake in shares of Microsemi by 1,867.9% during the 2nd quarter. BlueMountain Capital Management LLC now owns 45,675 shares of the semiconductor company’s stock worth $2,138,000 after purchasing an additional 43,354 shares in the last quarter. Hedge funds and other institutional investors own 97.55% of the company’s stock.

Microsemi (MSCC) traded up $0.55 during trading on Tuesday, hitting $58.13. The stock had a trading volume of 827,800 shares, compared to its average volume of 979,367. The firm has a market cap of $6,860.00, a price-to-earnings ratio of 38.75, a P/E/G ratio of 1.22 and a beta of 1.15. Microsemi has a 52 week low of $46.08 and a 52 week high of $58.33. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.29.

Microsemi (NASDAQ:MSCC) last released its quarterly earnings data on Thursday, November 9th. The semiconductor company reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.01. Microsemi had a return on equity of 20.82% and a net margin of 9.73%. The business had revenue of $475.30 million for the quarter, compared to analysts’ expectations of $474.97 million. During the same quarter in the previous year, the business posted $0.91 EPS. Microsemi’s revenue for the quarter was up 5.6% on a year-over-year basis. equities research analysts expect that Microsemi will post 3.57 EPS for the current fiscal year.

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About Microsemi

Microsemi Corporation is a designer, manufacturer and marketer of analog and mixed-signal semiconductor solutions differentiated by power, security, reliability and performance. The Company offers a portfolio of semiconductor and system solutions for aerospace and defense, communications, data center and industrial markets.

Analyst Recommendations for Microsemi (NASDAQ:MSCC)

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